The present invention relates to promotions and discounts offered to consumers, and more particularly to techniques for redeeming value accumulated by consumers based upon their shopping activities.
Loyalty programs are commonly used by retailers to improve consumer loyalty and to lure consumers away from their competitors. In a typical loyalty program, loyalty cards are issued to consumers. Loyalty cards reward consumers for frequenting and making purchases at stores covered by the loyalty cards. When a loyalty card is used, advertised promotions are given to the consumer in the form of discounts or points that are redeemed at the point of sale as a credit against a purchase made by the consumer.
With an increase in the number of retailers (both brick-and-mortar stores and online stores) offering loyalty programs, retailers are now constantly striving to offer “better” loyalty programs than their competitors in an effort to improve consumer loyalty and also to lure consumers away from their competitors. Accordingly, there is need for loyalty programs that are more flexible, easier to use by the consumers, and offer better benefits than existing loyalty programs. Retailers also would like to implement the “better” loyalty programs without incurring significant costs or making significant changes to their existing infrastructure.